Donald Trump
From Wikipedia, the free encyclopedia
For other uses, see Donald Trump (disambiguation).
| Donald Trump | |
|---|---|
Trump at the 2015 Conservative Political Action Conference (CPAC), March 2015
|
|
| Born | Donald John Trump June 14, 1946 Queens, New York, US |
| Residence |
|
| Alma mater | Fordham University (transferred) University of Pennsylvania |
| Occupation | • Chairman and president of The Trump Organization[1] • Chairman of Trump Plaza Associates, LLC[2] • Chairman of Trump Atlantic City Associates[2] • Host of The Apprentice (formerly) |
| Years active | 1968–present |
| Salary | $60 million[2] |
| Net worth |  US$4.1 billion (July 2015)[2] |
| Political party | Republican (Before 1999; 2009–11; 2012–present) Reform Party (1999–2001)[3] Democratic (2001–09)[4] Independent (2011–12)[5] |
| Religion | Presbyterianism[6] |
| Spouse(s) | Ivana Zelníčková (1977–92) Marla Maples (1993–99) Melania Knauss (2005–present) |
| Children | Donald Ivanka Eric Tiffany Barron |
| Website | Official website |
| Signature | |
 |
|
Trump is a son of Fred Trump, a New York City real estate developer.[8] Donald Trump worked for his father's firm, Elizabeth Trump & Son, while attending the Wharton School of the University of Pennsylvania, and in 1968 officially joined the company.[9] He was given control of the company in 1971, renaming it The Trump Organization.[10][11] Trump remains a major figure in the real estate industry in the United States and a celebrity for his prominent media exposure.[12]
In 2010, Trump expressed an interest in becoming a candidate for President of the United States in the 2012 election,[13][14] but in May 2011, he announced he would not run.[15] He was a featured speaker at the 2013 Conservative Political Action Conference (CPAC),[16] and in the same year began researching a possible presidential bid in the 2016 election.[17][18] On June 16, 2015 at Trump Tower in Manhattan, Trump formally announced his candidacy for President of the United States in the 2016 election, seeking the nomination of the Republican Party.[19][20]
Contents
- 1 Early life and education
- 2 Business career
- 3 Business ventures and investments
- 4 Entertainment media
- 5 Politics
- 6 Personal life
- 7 Legal affairs
- 8 Awards and honors
- 9 Bibliography
- 10 See also
- 11 References
- 12 Further reading
- 13 External links
Early life and education
Trump was born on June 14, 1946, in Queens, New York, one of five children of Mary Anne (née MacLeod) and Fred Trump, who married in 1936. His oldest brother, Fred Jr., died in 1981 at the age of 43.[21] Trump's mother was a Scottish immigrant, born on the Isle of Lewis, off the west coast of Scotland,[22] and Trump's paternal grandparents were German immigrants.[23] His grandfather, Frederick Trump (né Friedrich Drumpf), immigrated to the United States in 1885, and became a naturalized United States citizen in 1892. Frederick married Donald's grandmother, Elisabeth Christ (October 10, 1880 – June 6, 1966),[24] at Kallstadt, Bavaria, Germany, on August 26, 1902. They had three children.While living in Jamaica Estates, Trump attended the Kew-Forest School in Forest Hills, Queens, where Fred Trump, Donald's father, was a member of the Board of Trustees. Some of his siblings also attended Kew-Forest. At age 13, after behavior problems led to his dismissal, his parents sent him to the New York Military Academy (NYMA), hoping to direct his energy and assertiveness in a positive manner. [25] At NYMA, in rural New York, Trump earned academic honors,[citation needed] and played varsity football in 1962,[citation needed] varsity soccer in 1963,[citation needed] and varsity baseball from 1962 to 1964[citation needed] (baseball captain 1964).[citation needed]
Trump attended Fordham University in the Bronx for two years, before transferring to the Wharton School of the University of Pennsylvania, because Wharton then had one of the few real estate studies departments in US academia.[26] He graduated in 1968, with a Bachelor of Science degree in economics and anthropology.[27]
Business career
Trump began his career at his father's real estate company,[28] Elizabeth Trump and Son,[29] which focused on middle-class rental housing in Brooklyn, Queens, and Staten Island. One of Trump's first projects, while he was still in college, was the revitalization of the foreclosed Swifton Village apartment complex in Cincinnati, Ohio, which his father had purchased for $5.7 million in 1962. Trump became intimately involved in the project and with a $500,000 investment, turned the 1200-unit complex with a 66 percent vacancy rate to 100 percent occupancy within two years.[citation needed] In 1972 the Trump Organization sold Swifton Village for $6.75 million.[30]In 1971, Trump moved to Manhattan and became involved in larger building projects and used attractive architectural design to win public recognition.[8] He made plans to acquire and develop the old Penn Central for $60 million with no money down.[31] Later, with the help of a 40-year tax abatement from the New York City government, he turned the bankrupt Commodore Hotel into the Grand Hyatt[32] and created The Trump Organization.[33]
New York City had a plan to build the Javits Convention Center on property for which Trump held a right-to-buy option. Trump estimated his company could have completed the project for $110 million[34] but the city rejected his offer and Trump received a broker's fee on the sale of the property instead. Repairs on The Wollman Rink in Central Park (built in 1955) were started in 1980 with an expected 2½-year construction schedule but was nowhere near completion by 1986. Trump took over the management of the project, at no cost to the city, and completed it in three months for $1.95 million, which was $750,000 less than the initial budget.[35]
In 1988, Trump acquired the Taj Mahal Casino in a transaction with Merv Griffin and Resorts International.[36] This expansion, both personal and business, led to mounting debt.[37]
By 1989, poor business decisions left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy[37] and to the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal emerged from bankruptcy on October 5, 1991, with Trump ceding 50 percent ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.[38]
The late 1990s saw a resurgence in his financial situation. In 2001, he completed Trump World Tower, a 72-story residential tower across from the United Nations Headquarters.[39] Also, he began construction on Trump Place, a multi-building development along the Hudson River. Trump owns commercial space in Trump International Hotel and Tower, a 44-story mixed-use (hotel and condominium) tower on Columbus Circle. Trump owns several million square feet of prime Manhattan real estate.[40]
Trump has developed many real estate projects, such as Trump International Hotel and Tower – Honolulu, Trump International Hotel and Tower – Chicago, Trump International Hotel and Tower – Toronto, and Trump Tower – Tampa. In Fort Lauderdale, Florida, one Trump construction project was put on hold in favor of another (Trump International Hotel and Tower – Fort Lauderdale). Meanwhile, Trump Towers – Atlanta is being developed in a housing market having the nation's second-highest inventory of unsold homes.[41]
In 2015, Forbes estimated his net worth at $4.1 billion.[2] In June 2015, Business Insider published a June 30, 2014, financial statement supplied by Trump. The statement reflects his net worth as $8.7 billion. Of that amount, $3.3 billion is represented by "Real Estate Licensing Deals, Brand and Branded Developments", described by Business Insider as "basically [implying] that Trump values his character at $3.3 billion".[42]
Business ventures and investments
Main article: The Trump Organization
The Trump Organization owns, operates, develops and invests in real estate around the world such as Trump International Hotel and Tower in Chicago.
Trump branding and licensing
Beyond his traditional ventures in the real estate, hospitality, and entertainment industries, Trump has established the Trump name and brand in other industries and products. Trump has succeeded in marketing the Trump name on a large number of products, including Trump Financial (a mortgage firm), Trump Sales and Leasing (residential sales), Trump Restaurants (located in Trump Tower and consisting of Trump Buffet, Trump Catering, Trump Ice Cream Parlor, and Trump Bar), GoTrump (an online travel website),[43] Donald J. Trump Signature Collection (a line of menswear, men's accessories, and watches), Donald Trump The Fragrance (2004), Trump magazine, Trump Golf, Trump Chocolate, Trump home (home furnishings), Trump Productions (a television production company), Trump Institute, Trump The Game (1989 board game), Donald Trump's Real Estate Tycoon (a business simulation game), Trump Books, Trump Model Management, Trump Shuttle, Trump Ice, Trump Mortgage, Trump Vodka, and Trump Steaks. In addition, Trump reportedly receives $1.5 million for each one-hour presentation he does for The Learning Annex.[44]In 2011, Forbes' financial experts estimated the value of the Trump brand at $200 million. Trump disputes this valuation, saying that his brand is worth about $3 billion.[45] Many developers pay Trump to market their properties and to be the public face for their projects.[46] For that reason, Trump does not own many of the buildings that display his name.[46] According to Forbes, this portion of Trump's empire, actually run by his children, is by far his most valuable, having a $562 million valuation. According to Forbes there are 33 licensing projects under development including seven "condo hotels" (the seven Trump International Hotel and Tower developments).
Net worth
In April 2011, amidst speculation whether Trump would run as a candidate in the US presidential election of 2012, Politico quoted unnamed sources close to him stating that, if Trump should decide to run for president, he would file "financial disclosure statements that [would] show his net worth [was] in excess of $7 billion with more than $250 million of cash, and very little debt."[47] (Presidential candidates are required to disclose their finances after announcing their intentions to run.) Although Trump did not run as a candidate in the 2012 elections, his professionally prepared 2012 financial disclosure was published in his book stating a $7 billion net worth.[48] Estimates of Trump's net worth have fluctuated along with real estate valuations: In 2015, Forbes listed it as $4.1 billion.[49] On June 16, 2015, just prior announcing his candidacy for President of the United States, Trump released professionally prepared financial disclosure statements to the media stating a net worth of almost $9 billion.[50] Some business journalists have expressed skepticism of the higher net worth estimate.[51]Trump Tower
Main article: Trump Tower (New York City)
Trump Tower, at 725 Fifth Avenue, Manhattan
Stock market investments
In 2011, Trump made a rare foray into the stock market after being disappointed with the depressed American real estate market and facing poor returns on bank deposits. He stated that he wasn't a stock market person, but he also stated that prime real estate at good prices is hard to get. Among the stocks Trump purchased, he stated he bought stock in Bank of America, Citigroup, Caterpillar Inc., Intel, Johnson & Johnson and Procter & Gamble.[7] In December 2012, Trump revealed that he also added shares of Facebook to his stock portfolio.[52]Sports
In 1983 Trump purchased the New Jersey Generals for the inaugural season of the United States Football League (USFL). The Generals hired former New York Jets head coach Walt Michaels. Prior to the inaugural season Trump sold the franchise to Oklahoma oil magnate J. Walter Duncan. Prior to the 1984 season, Duncan sold the team back to Trump.[53]The USFL planned to play its 1986 schedule in the fall, directly opposite the NFL, thanks mostly to Trump's strong advocacy of direct competition with the older, established league. Two years earlier, Trump sold most of his fellow owners on a move to the fall by arguing that it would eventually force a merger with the NFL—in which the owners of any USFL teams included in a merger would see their investment more than double.
The Generals merged with the Houston Gamblers during the extended offseason, adding such stars as quarterback Jim Kelly and wide receiver Ricky Sanders. Michaels was fired, replaced with former Gamblers coach Jack Pardee, who planned to bring the Gamblers' high-powered run and shoot offense with him. However, the USFL's "Dream Team" never took the field. The 1986 season was cancelled after the USFL won a minimal verdict in an antitrust lawsuit against the NFL; the league folded soon afterward.
Trump at one time acted as a financial advisor for Mike Tyson,[54] hosting Tyson's fight against Michael Spinks in Atlantic City.[55]
Following the death of Buffalo Bills owner Ralph Wilson Jr. in March 2014, Trump expressed public interest in purchasing the team. When speaking to the media, Trump has made it clear that should he purchase the team, the Bills would remain in Buffalo.[56] Ultimately, the team was sold to Kim and Terrence Pegula in September 2014.[57]
Golf
Turnberry Hotel, Ayrshire, Scotland
Beauty pageants
Further information: Miss USA and Miss Universe
The Miss Universe and Miss USA
have been owned by Donald Trump since 1996 and are among the most
recognized beauty pageants. The pageant was founded in 1952 by the California
clothing company Pacific Mills. In 2015, after NBC and Univision
declined to continue broadcasting the event, Trump awarded the Reelz Channel exclusive rights to air the Miss Universe and Miss USA Pageants.[65]Entertainment media
Trump with Dennis Rodman during the latter's participation on The Apprentice
In March 2011, Trump was the subject of a Comedy Central Roast. The special was hosted by Seth MacFarlane, and roasters included Larry King, Snoop Dogg, and Anthony Jeselnik among regular roast participants. Trump's daughter Ivanka was seen in the audience. In April 2011, Trump attended the White House Correspondents' Dinner, featuring comedian Seth Meyers. President Obama used the occasion to present several prepared jokes mocking Trump.[71]
The Apprentice
In 2003, Trump became the executive producer and host of the NBC reality show, The Apprentice, in which a group of competitors battled for a high-level management job in one of Trump's commercial enterprises. Contestants were successively "fired" and eliminated from the game. In 2004, Donald Trump filed a trademark application for the catchphrase "You're fired."[4][5][6]For the first year of the show, Trump was paid $50,000 per episode (roughly $700,000 for the first season), but following the show's initial success, he is currently[when?] paid a reported $3 million per episode, making him one of the highest paid TV personalities.[citation needed] In 2007, Trump received a star on the Hollywood Walk of Fame for his contribution to television (The Apprentice).
Along with British TV producer Mark Burnett, Trump also put together The Celebrity Apprentice, in which well-known stars compete to win money for their charities. While Trump and Burnett co-produced the show, Trump stayed in the forefront, deciding winners and "firing" losers.
In February 2015, Trump opted not to renew his television contract for The Apprentice, generating speculation of his eventual run for President of the United States in 2016.[72]
World Wrestling Entertainment
Trump is a known World Wrestling Entertainment fan and friend of WWE owner Vince McMahon. He has hosted two WrestleMania events in the Trump Plaza and has been an active participant in several of the shows.[73] Trump's Trump Taj Mahal in Atlantic City was host to the 1991 WBF Championship (which was owned by WWE, known at the time as the "World Wrestling Federation"). Trump was interviewed by Jesse Ventura ringside at WrestleMania XX.[74]He also appeared at WrestleMania 23 in a match called "The Battle of the Billionaires".[73] Trump was in the corner of Bobby Lashley, while Vince McMahon was in the corner of Lashley's opponent Umaga with Stone Cold Steve Austin as the special guest referee.[73] The stipulation of the match was hair versus hair, which means that either Trump or McMahon would have their head shaved if their competitor lost.[73] Lashley won the match, and he and Trump shaved McMahon bald.[73]
On June 15, 2009, as part of a storyline, McMahon announced on Monday Night Raw that he had "sold" the show to Trump.[73] Appearing on screen, Trump declared he would be at the following commercial-free episode in person and would give a full refund to the people who purchased tickets to the arena for that night's show.[73] McMahon "bought back" Raw the following week for twice the price.[73] His entrance theme "Money, Money" was written by Jim Johnston.
Trump was inducted into the celebrity wing of the WWE Hall of Fame in 2013 at Madison Square Garden for his contributions to the promotion. He made his fifth WrestleMania appearance the next night.[75]
Politics
Political career
Donald Trump speaking at the 2015 Conservative Political Action Conference (CPAC) in National Harbor, Maryland on February 27, 2015
In April 2011, he questioned President Obama's proof of citizenship.[79] Trump also questioned whether Obama had good enough grades to warrant entry to Harvard Law School.[80] On April 25, 2011, Trump called for Obama to end the citizenship issue by releasing the long-form of his birth certificate.[81][82] Two days later, Obama made a formal statement in efforts by the White House to put the matter to rest with the release of the long-form of Obama's birth certificate.[83] Trump expressed pride at his role in the release of the long-form certificate in a press conference follow-up.[84]
Donald Trump has spoken before Tea Party supporters.[85][86][87] In December 2008, Trump emerged as an early supporter of the 2009 government backed rescue plan for the US auto industry which by 2012 was supported by 56% of Americans (63% support in Michigan), according a Pew Research Center poll.[88][89] Statements of Trump's hinting that vaccination would cause autism were subject to criticism in various media by the scientific community.[90][91] He has also been criticized for climate change-denialing statements, because they are discordant with the opinion of the scientific community.[92]
Trump floated the idea of running for president in 1988, 2004, and 2012, and for governor of New York in 2006 and 2014, but did not enter those races.[93][94] He ran for the presidential nomination of the Reform Party in 2000, winning the party's California primary.[95][96][97][98] As Trump publicly speculated about seeking the 2012 Republican presidential nomination, a Wall Street Journal/NBC News poll released in March 2011 found Trump leading among potential contenders, one point ahead of former Massachusetts Governor Mitt Romney.[99] A Newsweek poll conducted in February 2011 showed Trump within a few points of Barack Obama, with many voters undecided in the November 2012 general election for president of the United States.[100] A poll released in April 2011 by Public Policy Polling showed Trump having a nine-point lead in a potential contest for the Republican nomination for President of the United States while he was still actively considering a run.[101][102] His moves were interpreted by some media as possible promotional tools for his reality show The Apprentice.[15][103][104] On May 16, 2011, Trump announced he would not run for president.[15] Public Policy Polling described the events of May 2011 as "one of the quickest rises and falls in the history of presidential politics".[105] In December 2011, Donald Trump was named among the top six of the ten most admired men and women living, according to a USA Today/Gallup poll.[106]
In 2013, Trump was a featured speaker at the Conservative Political Action Conference (CPAC).[16] The speech was not well-attended.[107] He spent over $1 million to research a possible run for president of the United States.[17] In October 2013, New York Republicans had circulated a memo suggesting Trump should run of governor of the state in 2014 against Andrew Cuomo. Trump said that while New York had problems and taxes were too high, running for governor was not of great interest to him.[108] In February 2015, Trump opted not to renew his television contract for The Apprentice, generating speculation that he might run for President of the United States in 2016.[72]
In 2015, Trump was awarded the 'Liberty Award' at the 'Algemeiner Jewish 100 Gala' in honor of his positive contributions to US–Israel relations.[109] Trump says: "I have so many friends in Israel."[110]
Presidential campaign, 2016
Main article: Donald Trump presidential campaign, 2016
Trump formally announced his candidacy for president of the United
States in the 2016 elections on June 16, 2015, from his headquarters in Trump Tower in New York City.[19][20] Trump's announcement speech included the song "Rockin' in the Free World", causing Neil Young, the author of this song, to distance himself from Trump; Young supports independent candidate Bernie Sanders.[111] In July 2015, Jeff Lord, former White House political director compared criticisms made by opponents of Trump to the criticisms made by opponents of Ronald Reagan.[112]
Trump launched his campaign declaring the official slogan, "We are
going to make our country great again" with a commitment to become the
"greatest jobs president that God ever created".[20][113] A survey conducted by The Economist/YouGov
released July 9, 2015 became significant as the first major nationwide
poll to show Trump as the 2016 Republican presidential frontrunner.[114] A Suffolk/USA Today poll released July 14, 2015 showed Trump with a four point lead over his closest rival.[115]Political positions
Trump has stated that he is a "conservative Republican."[116]The Economy
Trump has made American jobs a priority.[113] He supports pro-growth policies and reduced taxation on U.S. workers and business with reduced regulation to increase economic growth and create opportunity.[117] Trump favors stronger trade negotiations with nations such as China, with a more level playing field on trade, to restore American jobs using tariffs if necessary.[118] Trump favors a free market energy policy and opposes 'cap and tax' also known as 'cap and trade'.[118] Trump supports improving America's infrastructure.[116]In May 2015, Trump opposed giving President Obama fast track trade authority for the Trans Pacific Partnership trade agreement.[119] Instead, he has called for stronger negotiations with China on trade and tariffs if necessary.[120][121][122] Trump has advocated a policy of stronger leadership to deal with the Organization of Petroleum Exporting Countries (OPEC), which he has blamed for high oil prices.[123][124]
Domestic issues
At the 2011 CPAC conference, Trump stated that he is "pro-life" and "against gun control".[125][126][118]Health care and Social Security
Trump favors replacing the Affordable Care Act (known as Obama care) with a free market plan and competition to lower costs. He supports funding Social Security, not cutting it, by restoring a stronger U.S. economy to pay for it.[118] In May 2015, Trump pledged to "take care of people" if elected president.[118][116][113]Trump has expressed concerns that childhood vaccination is linked to the development of autism and has called for the FDA to cease "heavy-dose" vaccinations.[127][128]
Environment
Trump has argued for climate change denial, tweeting that global warming is a "hoax", and that is a concept "created by and for the Chinese in order to make U.S. manufacturing non-competitive". [129]Education
Trump favors school choice and local control for primary and secondary schools. He opposes federally mandated Common Core standards for primary and secondary schools.[118][113]Foreign affairs and national defense
Trump has stated his intention to provide presidential leadership with strong diplomacy to restore "respect" for the United States around the world and he supports a strong national defense.[118][116]In January 2013, Trump (who is a notably popular figure with the Israeli public)[130] endorsed Israeli Prime Minister Benjamin Netanyahu during the 2013 Israeli elections, stating that "A strong prime minister is a strong Israel."[131][132]
Nuclear deal with Iran
In an interview with NBC News in Charlottesville, VA, on July 14, 2015, Trump called the newly-announced nuclear deal with Iran "terrible", saying that the president negotiated the agreement "from desperation." He added, "I don't understand the president. He dealt from desperation, and he shouldn't have been desperate." He further stated, "First of all, we're giving them billions of dollars in this deal, which we shouldn't have given them. We should have kept the money," in reference to the sanctions relief for Iran under the deal, which was negotiated by Iran and six world powers led by the United States. "Second of all, we have four prisoners over there. We should have said 'Let the prisoners out.' They shouldn't be over there." Trump also said that any deal should stipulate that inspectors have 24-hour-a-day access immediately to all nuclear sites.[133]Illegal immigration and border security
Trump has made border security a priority.[citation needed] He attracted reactions from opponents and defenders regarding comments on undocumented illegal immigration while announcing his candidacy for the US presidency at Trump Tower on June 16, 2015 in New York City.[134] He stated in part, "When Mexico sends its people, they're not sending their best. They're not sending you. They're sending people that have lots of problems, and they're bringing those problems.... They're bringing drugs. They're bringing crime. They're rapists. And some, I assume, are good people."[134][135]On July 6, 2015, Trump issued a 3-page, 881-word written statement clarifying his earlier comments on illegal immigration,[136] which read in part:
"The Mexican Government is forcing their most unwanted people into the United States. They are, in many cases, criminals, drug dealers, rapists, etc. This was evident just this week when, as an example, a young woman in San Francisco was viciously killed by a 5 time deported Mexican with a long criminal record, who was forced back into the United States because they didn’t want him in Mexico. This is merely one of thousands of similar incidents throughout the United States. In other words, the worst elements in Mexico are being pushed into the United States by the Mexican government. The largest suppliers of heroin, cocaine and other illicit drugs are Mexican cartels that arrange to have Mexican immigrants trying to cross the borders and smuggle in the drugs. The Border Patrol knows this. Likewise, tremendous infectious disease is pouring across the border. The United States has become a dumping ground for Mexico and, in fact, for many other parts of the world. On the other hand, many fabulous people come in from Mexico and our country is better for it. But these people are here legally, and are severely hurt by those coming in illegally. I am proud to say that I know many hard working Mexicans—many of them are working for and with me…and, just like our country, my organization is better for it."[136]
Reactions to comments on illegal immigration
José Antonio Meade Kuribreña, Mexican Secretary of Foreign Affairs, said that "he is a politician who ignores the context in which it is participating", with regard to US international economic relations and Trump's comments.[137] Jeb Bush stated that "Trump is wrong on this" and "to make these extraordinarily kind of ugly comments is not reflective of the Republican Party."[138] US Senator Ted Cruz and Congressman Steve King were among the defenders of Trump's remarks on illegal immigration and crime.[139][140]Univision announced it would no longer carry broadcasts of the Miss USA Pageant.[141] In response, Trump indicated the matter would be handled by legal action, and followed through by filing a $500 million lawsuit against Univision. The complaint asserts that Univision is attempting to suppress Trump’s First Amendment rights by putting pressure on his business ventures.[142] NBC announced it would not air the Miss Universe or Miss USA pageant.[143][144] Afterwards, the multinational media company Grupo Televisa severed ties with Trump,[145] as did Ora TV,[146] a television network partly owned by Mexican billionaire Carlos Slim.[147] Trump awarded exclusive rights to the Reelz Channel to broadcast the Miss Universe and Miss USA Pageants.[65]
Paulina Vega, the current Miss Universe, said that, although she repudiates the immigration remarks of Trump,[148] who in turn called her a "hypocrite",[149] that she cannot give up the crown because her contract forbids it, and she could be sued.[150]
Mexico,[151] Panama,[152] and Costa Rica[153] won't send representatives to the Miss Universe competition.
Macy's announced it would phase out its Trump-branded merchandise.[154] Serta, a mattress manufacturer, also decided to drop their business relationship with Trump.[155] NASCAR ended sponsorship with Trump by announcing it would not hold their post season awards banquet at the Trump National Doral Miami.[156] ESPN decided to relocate its ESPY Celebrity Golf Classic to the Pelican Hill Golf Club in Newport Beach. The charity golf tournament was once scheduled to be held at a golf course owned by Trump.[157]
Personal life
Trump's mother, Mary Anne, was born in 1912 at Tong, Stornoway on the Isle of Lewis, off the coast of Scotland. In 1930, aged 18, on a holiday in New York, she met Fred Trump and stayed in New York. Born in Queens, New York,[159] Trump has four siblings: two brothers, Fred, Jr. (who is deceased) and Robert S. Trump; and two sisters, Maryanne and Elizabeth. His older sister, Maryanne Trump Barry, is a federal appeals court judge.
In 1977, Trump married Ivana Zelníčková and together they have three children: Donald, Jr. (born December 31, 1977), Ivanka (born October 30, 1981), and Eric (born January 6, 1984). They were divorced in 1992. In 1993, he married Marla Maples and together they had one child, Tiffany (born October 13, 1993). They divorced on June 8, 1999. In a February 2008 interview on ABC's news program Nightline, Trump commented on his ex-wives by saying, "I just know it's very hard for them [Ivana and Marla] to compete because I do love what I do. I really love it."
On April 26, 2004, he proposed to Melania Knauss, a native of Slovenia. Trump and Knauss married on January 22, 2005, at Bethesda by the Sea Episcopal Church, on the island of Palm Beach, Florida, followed by a reception at Trump's Mar-A-Lago estate.[160] Melania gave birth to a boy named Barron William Trump, Trump's fifth child, on March 20, 2006.[161][162]
Trump has seven grandchildren: five from his son Donald Jr. (Kai Madison,[163] Donald John III,[164] Tristan Milos,[165] Spencer Frederick and Chloe Sophia) and two from his daughter Ivanka (Arabella Rose and Joseph Frederick[166][167]).
Trump is a Presbyterian.[6] In an April 2011 interview, on the 700 Club, Trump said, "I'm a Protestant, I'm a Presbyterian. And you know I've had a good relationship with the church over the years. I think religion is a wonderful thing. I think my religion is a wonderful religion."[168][169] A February 2011 Politics Daily article described Trump as "apparently a member of the Dutch Reformed Church, which is a Presbyterian denomination".[170] Andrew Cusack in 2008 stated that Donald Trump is a member of New York City's Marble Collegiate Church. Explaining that church's organizational relationships, Cusack says "the Collegiate Reformed Protestant Dutch Church is actually a denomination within a denomination" and that the Collegiate Churches are "now part of the Reformed Church of America".[171] Marble Collegiate Church also states that it is denominationally affiliated with the Reformed Church in America,[172] with the RCA website stating that the RCA has a local church "presbyterian form of government".[173] Trump does not drink alcohol.[174] Of his daughter Ivanka's conversion to Judaism he said: “Not only do I have Jewish grandchildren, I have a Jewish daughter and I am very honored by that.”[175]
Legal affairs
Four of Trump's businesses have declared Chapter 11 bankruptcy.[176] According to a 2011 report by Forbes, these were due to over-leveraged hotel and casino businesses in Atlantic City: Trump’s Taj Mahal (1991), Trump Plaza Hotel (1992), Trump Hotels and Casino Resorts (2004), and Trump Entertainment Resorts (2009)[177][178] Trump said "I've used the laws of this country to pare debt. ... We'll have the company. We'll throw it into a chapter. We'll negotiate with the banks. We'll make a fantastic deal. You know, it's like on 'The Apprentice'. It's not personal. It's just business."[179] He indicated that other "great entrepreneurs" do the same.[177]Trump’s first corporate bankruptcy was in 1991 when Trump Taj Mahal was unable to pay its obligations.[179] Forbes indicated that his first bankruptcy was the only one where his personal wealth was involved. Time, however, maintains that also in the later 2004 bankruptcy $72 million personal money was involved.[180]
On November 2, 1992, the Trump Plaza Hotel filed a prepackaged Chapter 11 protection plan. Under the plan, Trump agreed to give up a 49 percent stake in the luxury hotel to Citibank and five other lenders.[181] In return Trump would receive more favorable terms on the remaining $550+ million owed to the lenders, and retain his position as chief executive, though he would not be paid and would not have a role in day-to-day operations.[182]
In the subsequent restructuring of these two events Trump had eliminated a large portion of his $900 million personal debt by 1994[183] and reduced significantly his nearly $3.5 billion in business debt. While he relinquished the Trump Princess yacht and the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. Trump sold his ownership of West Side Yards to Asian developers as a result of his negotiations with Chase Manhattan Bank. Trump was reportedly paid a premium for placing his well known moniker on the buildings that eventually arose. In 1995, he combined his casino holdings into the publicly held Trump Hotels & Casino Resorts. The real estate assets became a source of wealth even when profits had struggled.[184]
The third corporate bankruptcy was on October 21, 2004, when Trump Hotels & Casino Resorts announced a restructuring of its debt.[185] The plan called for Trump's individual ownership to be reduced from 56 percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. Trump Hotels was forced to seek voluntary bankruptcy protection to stay afloat. After the company applied for Chapter 11 Protection in November 2004, Trump opted to relinquish his CEO position but retained a role as Chairman of the board. In May 2005[186] the company emerged from bankruptcy as Trump Entertainment Resorts Holdings.[187]
The most recent corporate bankruptcy occurred in 2009. On February 13, Trump announced that he would resign from the board of Trump Entertainment Resorts and four days later the company filed for Chapter 11 bankruptcy.[188] At that time Trump Entertainment Resorts had three properties in Atlantic City: Trump Taj Mahal, Trump Plaza, and Trump Marina (sold in 2011). In early August 2014 Donald Trump filed a lawsuit requesting his name be removed from the Trump Plaza Hotel and Casino and the Taj Mahal facilities since he no longer runs or controls the company.[189] Trump Entertainment Resorts filed again for bankruptcy in 2014.[190]
In 1973, the Justice Department unsuccessfully sued Trump Management Corporation for alleged racial discrimination, at which time Trump was the company's president.[191] The federal government filed the lawsuit against his New York City real estate company for allegedly discriminating against potential black renters to which Trump never admitted, the case was settled out of court in 1975.[192]
In March 1990, after an analyst at Janney Montgomery Scott said that Trump's Taj Mahal project would initially "break records" but would fail before the end of that year, Trump threatened to sue the firm unless the analyst recanted or was fired. The analyst refused to retract the statements, and was fired by his firm.[193] Taj Mahal declared bankruptcy for the first time in November 1990.[194] A defamation lawsuit by the analyst against Trump for $2 million was settled out of court.[195] The analyst's statements regarding the Taj Mahal's prospects were later called "stunningly accurate".[196]
In January 2002, the Securities and Exchange Commission brought a financial-reporting case against Trump Hotels & Casino Resorts Inc., alleging that it had committed several "misleading statements in the company's third-quarter 1999 earnings release". The matter was settled with the defendant neither admitting nor denying the charge.[197]
During the 2008 financial crisis Trump International Hotel and Tower in Chicago was unable to sell sufficient units. Lender Deutsche Bank refused to let Trump lower the prices on the units to spur sales. Arguing that the financial crisis and resulting drop in the real estate market is due to circumstances beyond his control, Trump invoked a clause in the contract to not pay the loan.[198] Trump then initiated a suit asserting that his image had been damaged. Both parties agreed to drop their suits, and sale of the units went on.[199]
On August 24, 2013, a lawsuit filed by New York Attorney General Eric Schneiderman, whose claims were dismissed by the Manhattan Superior Court, had accused Trump of defrauding more than 5,000 people of $40 million for the opportunity to learn Trump's real estate investment techniques in a for-profit training program, Trump University.[200][201][202] On January 30, 2014, the New York court dismissed all of the Attorney General's fraud claims against Trump, allowing only the licensing aspect of the case to proceed.[203] In October 2014, the New York court found Trump only liable for not obtaining a license to operate the for-profit investment school, Trump Entrepreneur Initiative, formerly known as Trump University.[204] In a separate class action civil suit in mid-February 2014, a San Diego federal judge allowed claimants in California, Florida, and New York to proceed.[205]
In late October 2014, model Alexia Palmer filed a civil suit against Trump Model Management for promising a $75,000 annual salary but paying only $3,380.75 for three years' work. Palmer claims to be owed more than $200,000. Palmer charged that Trump Model Management, charged, in addition to a management fee, "obscure expenses" from postage to limousine rides that consumed the remainder of her compensation. Trump attorney Alan Garten claims the lawsuit is "bogus and completely frivolous".[206][207]
In 2015 Trump initiated a $100 million lawsuit against Palm Beach County claiming that officials pressured the FAA to direct air traffic to the Palm Beach International Airport in a "deliberate and malicious" act over his Mar-A-Lago estate.[208] The air traffic is allegedly damaging the construction of the building and disrupting its ambience. Trump had previously sued twice over airport noise.[208]
Awards and honors
Trump's star on the Hollywood Walk of Fame
- Gaming Hall of Fame (class of 1995)[209]
- NY Ride of Fame (class of 2010)[210]
- Honorary Doctor of Business Administration (Hon. D.B.A.), 2010, Robert Gordon University[211]
- Honorary Doctor of Business (Hon. D.B.), 2012, Liberty University[212]
- WWE Hall of Fame (class of 2013)
- Star on the Hollywood Walk of Fame
Bibliography
Trump has authored many books including:- Trump: The Art of the Deal (1987)
- Trump: Surviving at the Top (1990)
- Trump: The Art of Survival (1991)
- Trump: The Art of the Comeback (1997)
- Trump: How to Get Rich (2004)
- The Way to the Top: The Best Business Advice I Ever Received (2004)
- Trump: Think Like a Billionaire: Everything You Need to Know About Success, Real Estate, and Life (2004)
- Trump: The Best Golf Advice I Ever Received (2005)
- Why We Want You to be Rich: Two Men – One Message (2006), co-written with Robert Kiyosaki.
- Think Big and Kick Ass in Business and Life (2007), co-written with Bill Zanker. (ISBN 978-0-06-154783-6)
- The America We Deserve (2000) (with Dave Shiflett, ISBN 1-58063-131-2)
- Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies (2007)
- Trump 101: The Way to Success (2007)
- Trump Never Give Up: How I Turned My Biggest Challenges into Success (2008)
- Think Like A Champion: An Informal Education in Business and Life (2009)
- Midas Touch: Why Some Entrepreneurs Get Rich-And Why Most Don't (2011), co-written with Robert Kiyosaki. (ISBN 1-61268-095-X)
- Time to Get Tough: Making America No. 1 Again. Regnery Publishing. December 5, 2011. p. 256. ISBN 978-1-59698-773-9.
See also
References
- Mitzi Bible (September 24, 2012).Donald Trump addresses largest Convocation crowd, praises Liberty's growth. Liberty University News Service, September . Liberty University News Service.
Further reading
- Blair, Gwenda (2000). The Trumps. Simon & Schuster. ISBN 0-684-80849-8.
- Trump column archives at The Huffington Post
External links
 |
Wikimedia Commons has media related to: |
 |
Wikiquote has quotations related to: Donald Trump |
- Official campaign website
- Trump biography - The Trump Organization
- Donald Trump collected news and commentary at The Wall Street Journal
- Donald Trump collected news and commentary at The Guardian
| Business positions | ||
|---|---|---|
| New title | Chief Executive Officer of Trump Hotels and Casino Resorts 1995–2004 |
Succeeded by Robert Griffin |
|
||
|
||
Categories:
- Donald Trump
- 1946 births
- 20th-century American businesspeople
- 21st-century American businesspeople
- 21st-century American writers
- American airline chief executives
- American billionaires
- American beauty pageant owners
- American beverage industry businesspeople
- American book publishers (people)
- American businesspeople in retailing
- American business writers
- American casino industry businesspeople
- American construction businesspeople
- American cosmetics businesspeople
- American education businesspeople
- American fashion businesspeople
- American finance and investment writers
- American financial commentators
- American financial company founders
- American financial literacy activists
- American financiers
- American food industry businesspeople
- American game show hosts
- American hoteliers
- American infotainers
- American investors
- American magazine publishers (people)
- American people of German descent
- American people of Scottish descent
- American political fundraisers
- American Presbyterians
- American radio producers
- American real estate businesspeople
- American reality television producers
- American restaurateurs
- American socialites
- American stock traders
- American television directors
- American television hosts
- American video game designers
- Board game designers
- Business educators
- Businesspeople from Florida
- Businesspeople from New York City
- Businesspeople in confectionery
- Fordham University alumni
- Living people
- New York Military Academy alumni
- New York Republicans
- Participants in American reality television series
- People from Manhattan
- People from Palm Beach, Florida
- People from Queens, New York
- Politicians from New York City
- Professional wrestling managers and valets
- Radio personalities from New York City
- Television producers from New York
- The Apprentice (TV series)
- The Trump Organization employees
- Trump family
- United States Football League executives
- United States presidential candidates, 2000
- United States presidential candidates, 2016
- Wharton School of the University of Pennsylvania alumni
- Writers from New York City
- WWE Hall of Fame
No comments:
Post a Comment